Silver also rose strongly in the past week and seems to be targeting the 30 USD per troy ounce again! Of course, raw materials companies like Hannan Metals benefit from this.
The Canadian natural resources and exploration company Hannan Metals Limited (ISIN: CA4105841064 / TSX-V: HAN) based in Vancouver, which operates a high-grade copper-silver project in the foothills of the eastern Andes in Peru, has announced that it will resume fieldwork in Peru.
The company, which has repeatedly achieved numerous successes in the discovery, promotion and financing of its projects, wants to develop sustainable metal resources in a responsible manner. Such projects are of enormous importance for the transition to a low-carbon economy. After the COVID19-related restrictions, the field activities have now started again, which is why we are expecting a stronger flow of messages again from now on.
The ‘San Martin’ project will initially focus on the ‘Tabalosos’ area. Here, the technical field teams will systematically take geochemical samples and carry out mappings to define mineralized zones. In addition, the collection of stream sediment samples will be started in an expanded area.
Previous work in the ‘Tabalsos’ area has demonstrated high-grade copper-silver mineralization in a stratified position in the upper levels of the ‘Saravaquillo’ formation. In a 30 kilometer trend with a 5 kilometer strike width, 4 key zones were defined that correspond to the same mineralized stratigraphic plain identified during an outcrop at the Sacanche area 80 kilometers south.
Source: Hannan Metals
And that is a huge discovery, because we already had here in January of last year 16 grab samples of boulder in three zones over a 3.5 kilometer strike averaged 2.7% copper and 29 g / t (grams per ton) silver. The copper values were between 0.1-8.3%, the silver values 0.2-109 g / t. A zone of 3 grab samples from boulder with two different lithologies averaged 3.3% copper and 12 g / t silver. Additional grab samples averaging 4.2% copper and 17 g / t silver were announced in September 2019, as well as results from rapid exploration samples from a small shale host block grading 12.3% copper and 70 g / t silver.
A structurally controlled sandstone with a copper-silver target was also identified in the southern portion of the project. With a length of 7 kilometers, this area in ‘Tabalosos’ is up to 5 kilometers wide.
Mr. Michael Hudson, CEO of Hannan Metals, explains:
“The ‘San Martin’ district has suffered badly from the pandemic and has only recently taken steps to reopen. When we resume field work, we will comply with all COVID regulations. We look forward to resuming field activities and making further discoveries within the new copper-silver basin system! “
The course has been set for a positive flow of news. Because even during the ‘lockdown’, Hannan achieved a lot behind the scenes. Not only has the area been staked out and further data analyzed, potential partnerships have also been discussed! The company is entering an exciting stage of development!
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